In an appearance on NBC’s Meet the Press With David Gregory, Senate Minority Leader Mitch McConnell discussed a host of issues (see the full interview here), but one jumped out as the most compelling – the discussion of the proposed “Millionaire’s Tax” that will reportedly hit the presses Monday morning from the White House. The “Buffett” tax named for bagillionaire Warren Buffet would tax upper-income Americans off the top and would serve as President Obama’s answer to paying for his proposed second round of stimulus.
“If Warren Buffett would like to give up some of his benefits, we would be happy to talk about it.”
For what it’s worth, I don’t buy what McConnell is selling in this half of his answer – his vision for “means testing” Social Security. From where I stand, either it’s a full-blown entitlement program or it’s not. If we have to begin weighing and measuring how much money people “deserve” from their own government-run “retirement plans”, I say the whole thing’s crossed over into the land of the absurd.
I do fully support this half.
“In regard to his tax rates, if he’s feeling guilty about it; he should send in a check.”
As I’ve said before, if “millionaires” feel like they’re not paying their fair share, pony up folks. Making your check out to stupid.
What’s the reality here? Why don’t more millionaires simply write checks to Washington? Because what they do give away they give to charitable organizations that know how to stretch a dime. Our federal government has never even demonstrated that it could get a dime’s worth of value for a dollar. They’re not sending their money to Washington, because they know the government will misuse and mismanage every dime of it. A millionaire’s tax is simply their best effort at forcing others to do that which they won’t do on their own accord. The whole argument is ridiculous.
But whatever, here’s the back-and-forth.